Today, we stand here to share an important piece of news from Alibaba Group – the financial results for the third quarter of fiscal year 2024 ended December 31, 2023. At this important moment, let's unveil the financial report together and gain an in-depth understanding of Cainiao Group's performance this quarter and the success story behind it.
Cainiao Group achieved a whopping 284 in the quarterRevenue of 7.6 billion yuan, an increase of 24% year-on-year. This impressive growth is not accidental, but is the result of Alibaba Group's continued efforts to innovate and expand its business globally. This financial report not only reflects the business strength of Cainiao Group, but also reflects Alibaba Group's leadership in the global logistics field.
Let's take a closer look at the highlights of this earnings report. First of all, Cainiao Group has obvious advantages in economies of scale, which not only brings stable revenue, but also gives them greater flexibility in cost control. Secondly, the refined operation of rookies in thousands of lines, last mile distribution and other links has effectively reduced costs and improved efficiency. The combination of these factors enables Cainiao to maintain its unique competitive advantage in the face of market competition.
What's more, thanks to these changes, Cainiao Group's adjusted EBIT reached 96.1 billion RMB, which is exciting news. This means that Cainiao Group's profitability is continuing to increase and their strategy is having a positive impact. All this reflects the firm confidence and positive attitude of Cainiao Group for future development.
However, that's not the whole story. In this highly competitive market, Cainiao Group has always been vigilant and actively responded to various challenges. They are not only working hard to expand the scale of their business, but also to improve the quality of service. All this makes us look forward to the future of Cainiao Group.
Alibaba Group is satisfied with Cainiao Group's performance and is confident in its future development. Their goal is to continue to optimize their cost structure and improve service quality, while expanding their market share. Such ambition shows us the determination and courage of a strong group on the road of continuous progress.
This financial report is a report card that demonstrates its strength, and it is the result of Alibaba Group's long-term investment and unremitting efforts. Cainiao Group's performance is not only an individual honor, but also the pride of the entire Alibaba Group. In the process, they proved their worth with their strength and demonstrated their strength and determination to the world with their actions.
However, there are hardships behind success. Behind the cost optimization brought about by the refined operation of the Cainiao Group in the thousand-line, last-mile distribution and other links, there are countless days and nights of hard work and sweat. This is a reflection of their perseverance and motivation for them to keep going.
In the future, Alibaba Group will continue to pay attention to the development of Cainiao Group, and look forward to their continued strong growth momentum in the coming days, bringing more surprises and breakthroughs to the global logistics industry. We believe that the future of Cainiao Group will be brighter, and their success will inspire more people to pursue their dreams.
At this moment, let us applaud the brilliant achievements of Cainiao Group and applaud the brilliant future of Alibaba Group! Because their success is not only a personal honor, but also the pride of our time!